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4800 Basildon Court Apex, NC 27539

3 Beds 2 Baths 1,339 sqft Built 1999

$249,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $186.63
  • 8 Days on Market
  • MLS # : 2360936
  • Updated Date : 01/16/2021 at 17:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,339 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Preferred Realty

Listing Agent's Description

CHARMING ranch home with one level living! New paint, new carpet, refinished hardwood floors and NEW ROOF 2020. Bright open concept kitchen and living area with vaulted ceiling in the great room. Screened in porch added in 2016, fenced in backyard and wonderful neighborhood and location! Huge second floor unfinished and ready for you to make your own or use as storage. No city taxes!! Don't miss this one!

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • Raleigh-Durham combined metros' economy is worth over $137 billion in Gross Metro Product and projected to grow to $146 billion in 2019 (USMayors.org, 2018)
  • Raleigh-Durham combined metros has 65.3% labor force participation rate higher than the national rate of 62.8% (USMayors.org, 2018)
  • Raleigh-Durham combined metros contribute to 24.1% of North Carolina's state economy i.e. Gross State Product (USMayors.org, 2018)
  • University of North Carolina, Duke University and Davidson University systems drive rental demand

PRICE & RENT TRENDS

Neighborhood: Amherst

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $125k370k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Amherst

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8371880

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
West Lake Elementary School Primary Regular 893 58 6
West Lake Middle School Middle Regular 1,344 77 6
Middle Creek High School High Regular 2,249 120 7

West Lake Elementary School

  • Education Level: Primary
  • # of students: 893
  • # of teachers: 58
6
GreatSchools Rating

West Lake Middle School

  • Education Level: Middle
  • # of students: 1,344
  • # of teachers: 77
6
GreatSchools Rating

Middle Creek High School

  • Education Level: High
  • # of students: 2,249
  • # of teachers: 120
7
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$868
Property Tax -$151
Property Insurance -$55
HOA -$18
Property Management Fees -$119
CASH FLOW
$250

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$249,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$42,878

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,460

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,309

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4603$1,600
$1,600
RENT COMPS ANALYSIS
  • 4800 Basildon Court Apex, NC 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.04
    •  
  • 8908 Juaquin Lane Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1997
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.90
    •  
  • 3212 Sawyers Mill Drive Apex, NC 3
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2001
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
PROPERTY LISTING DETAILS
Devon Carrick
1.919.608.3220
Keller Williams Preferred Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2360936
Last Updated: 01/16/2021
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